Earnings Per Share

3 Months Ended

Mar. 31, 2023

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three months ended March 31, 2023 and 2022, we paid no dividends on our Common Stock.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended
	March 31,
	2023		2022
Earnings (numerator)
Net income attributable to common stockholders	$	71,150	$	72,691

Shares (denominator)
Weighted average common shares outstanding (basic)		45,600		45,104
Dilutive effect of stock options and stock awards outstanding		561		740
Adjusted weighted average common shares outstanding (diluted)		46,161		45,844

Earnings per share attributable to common stockholders
Basic	$	1.56	$	1.61
Diluted	$	1.54	$	1.59

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		75		1